The federal government has released $60.8 million to help build The Wave electric streetcar system in Fort Lauderdale. The agreement, announced Monday by federal officials, represents the single largest grant for the $195.28 million system that will carry passengers on a loop through the downtown.

U.S. Rep. Debbie Wasserman Schultz, D-Weston, called the finality of the federal grant this week an “exciting and historic step for South Florida,” in a prepared statement from her office.

Despite controversy over The Wave, particularly the overhead electrical wires it requires, the 2.8-mile downtown Fort Lauderdale loop has continued in recent years to receive every approval it needs from governments small and large: downtown, city, county, regional, state and federal.

The state Department of Transportation is in charge of building it. The Wave is expected to be under construction in early 2018, and open for business in 2021. Its chief purpose, project documents say, is to foster growth and development downtown. It is expected to have a negligible effect on traffic.

“With thousands of new jobs created and an estimated $473 million in economic output to the region,” U.S. Rep. Ted Deutch, D-West Boca, said in a prepared statement. “The Wave will lead to an economic boon for the greater Fort Lauderdale area.”

The Small Starts grant, which was conceptually approved several years ago, represents 31 percent of the project cost.

The federal government’s total contribution is expected to total $82.7 million, mostly from a TIGER grant (Transportation Investment Generating Economic Recovery), according to FTA documents.

The state is expected to contribute $52.7 million, or 27 percent of the cost.

And the remaining $59.8 million will come from local sources: Broward County, the South Florida Regional Transportation Authority, the city of Fort Lauderdale and the Downtown Development Authority, which charges an extra property tax to property owners along the route.

Though it’s been talked about for years, and the money is now lined up, there’s no physical evidence that it’s coming. Many people in Broward and beyond are unaware of it, a city volunteer said Monday at a Fort Lauderdale economic development workshop.

“I don’t think anyone even knows about — is it the Street Wave? — I don’t think we publicize it enough,” advisory board member Mick Erlandson said at a meeting about pumping up the city economy. “I hate to drive. If you talk to anybody that’s under 35 they probably lean toward not enjoying driving, unless it’s a nice car. That’s why The Wave is important.”

The route runs from Northeast Sixth Street on the north end to Southeast 17th Street to the south, mostly on Andrews and Third avenues. Eventually, it’s expected to be expanded to other parts of the county.

In the written statement Monday, he applauded the release of federal millions, saying that he’ll work to “ensure that, as the project develops, it is extended into other communities so that its benefits may be fully realized by everyone.”